Tags: Auto Loans
Capital One Auto Credit
Capital One keeps sending my mother in law some paperwork in the mail trying to get her to refinance her current car loan through Capital One. I’ve heard horror stories about Capital One, but they mostly have to do with their credit cards:
Apparently, if you get a credit card through Capital One you’re basically held hostage by them. When you make payments to Capital One, they do not report anything to the credit bureaus like they should. So, this apparently brings your credit score down and makes it so you cannot get a credit card from another company or get a loan from another company besides Capital One. They say this is legal, as they don’t have to report anything. But, people don’t know this when they sign up for the Capital One credit cards or loans.
I first heard this through Clark Howards radio program, and you can learn more about it by going to Clark Howard’s site.
Related Link: New Car Loans new car financing
